Doha, April 22 (QNA) - Al-Raya newspapers emphasized, in its Thursday editorial, the strength and resilience of the Qatari economy, which is based on sound foundations that protected it from the consequences of the Coronavirus pandemic, adding that the Qatari economy was able to bypass the Coronavirus stage and seeks to achieve promising growth.

In this regard, the newspaper noted Qatar Central Bank's data regarding a significant increase in the volume of commercial bank assets by the end of March, by about 43.5 billion riyals from last February, indicating that our economy continued to achieve encouraging growth rates, despite the circumstances and closures caused by the pandemic.

It stated that the volume of commercial bank assets achieved an increase of 159.6 billion riyals, around 10 percent from March 2020, to reach 1748.2 billion riyals, as the flow of cash in banks would enhance the economy and trade and encourage investment and commercial activity in the country, which will be reflected positively on the growth rate in 2021.

Al-Raya added that the national economy benefited from the governmental support that was approved to face the consequences of the pandemic, which enabled the commercial activity to continue and helped small and medium enterprises maintain their commercial activity just like factories and large companies.

It pointed out that Qatar, thanks to the wise leadership, was able to immunize the economy from shocks, so that Qatar would always remain an investment and commercial attraction. This was confirmed by Qatar Central Bank data, which indicated that bank balances abroad jumped in March by about 21.50 billion riyals from last February to 110.91 billion riyals after it was 89.41 billion riyals in February and 78.22 billion a year ago in March 2020, Al-Raya said.

It added that global credits rating confirm that Qatar's economy is flexible, diversified and able to face challenges and risks. Furthermore, it is at the forefront of the region's economies, in addition to being ranked high in global competitiveness indicators, Al-Raya said, adding that the most important factors of the Qatar economy's strength are the attractive investment environment in important sectors, the administrative and legislative system that stimulates business, business development and investment attraction and free economic and logistical zones, which are an attractive environment for local and foreign investments.

Al-Raya concluded its editorial by pointing out that Qatari legislation provides great advantages for foreign direct investment, including 100 percent capital ownership and 100 percent return of profits, adding that the economy achieves great successes because it is based on solid foundations and legislations that are attractive to investment. (QNA)